3:00 p.m. BST | 10:00 a.m. EST

The revised FRS 102 Section 20 is in effect, and many businesses and organisations are navigating first-time application. This live training session cuts through the complexity and focuses on the practical steps that need to be taken now, because some of the easiest transition mistakes to make are also the most difficult to correct.

Lease accounting experts Jess Vento and Steve Stock will walk through the revised FRS 102 Section 20 on-balance-sheet model, the short-term and low-value lease exemptions, retrospective application requirements, and the transitional provisions available to preparers.

This training is designed for chartered accountancy firms advising clients reporting under FRS 102, with particular value for in-house finance teams at entities with December or March year-ends. Whether your firm is supporting clients through first-time adoption or your organisation is preparing its first set of financial statements under the revised standard, this session is for you.

Key Takeaways

After attending this session, participants will be able to:

• Understand how the single on-balance-sheet model changes lease recognition for lessees, including right-of-use (ROU) asset and lease liability
• Determine the scope of the standard and identify which leases qualify for the short-term and low-value exemptions
• Explain how the low-value exemption works under FRS 102 and where it diverges from IFRS 16
• Understand the requirements for retrospective application and the transitional reliefs available to preparers
• Identify common first-time adoption mistakes and learn how to avoid them

Register now to join this practical educational session and build confidence in applying the revised FRS 102 Section 20 lease accounting requirements.